Össur, Reykjavik, Iceland, has posted its third quarter (3Q) financial results for the three months ending September 30. Financial amounts, unless otherwise noted, are in U.S. dollars. According to the company, the highlights of the quarter are as follows:
- 3Q sales was $139 million, corresponding to 5 percent growth, compared to $129 million in the same period a year ago. Sales for the first nine months of this year totaled $415 million, corresponding to 9 percent growth, compared with $382 million over the same period a year ago.
- Gross profit in 3Q was $87 million or 63 percent of sales for the period ending September 30, compared to $81 million for the same period a year ago. Gross profit has returned to levels comparable with the average of 2016. Gross profit for the first nine months of 2017 amounted to $258 million or 62 percent of sales as 3Q ended, compared to $242 million from the same period a year ago.
- Net profit in 3Q 2017 was $11 million or 8 percent of sales compared with $13 million from the same period a year ago. Net profit for the first nine months of 2017 totaled $35 million or 8 percent of sales, compared with $37 million over the same period a year ago.
- Cash generated by operations in 3Q amounted to $23 million or 16 percent of sales compared to $27 million a year ago. Total cash generated by operations for the first nine months of 2017 was $56 million or 13 percent of sales compared to $60 million for the first nine months of 2016.
- Cash on hand for the period ending September 30 totaled $15 million compared with $16 million a year ago. For the first nine months of the year, cash on hand totaled $30 million compared with $25 million for the same period a year ago.
